The Combined Rate for Arkansas accounts for Federal, State, and Local tax rate on capital gains income, the 3.8 percent Surtax on capital gains and the marginal effect of Pease Limitations (which results in a tax rate increase of 1.18 percent). The Combined Rate does not account for Arkansas' allowance of a 50% State exclusion of Federally taxable capital gains.
Rates apply to individuals earning more than $79,300. Two special tax tables exist for low and middle income individuals. One for individuals below $22,200 in income, and one for those between $22,200 and $79,300. Bracket levels adjusted for inflation each year. Release dates for tax bracket inflation adjustments vary by state and may fall after the end of the applicable tax year. Standard deduction or personal exemption is structured as a tax credit. Arkansas has a "tax benefit recapture," by which many high-income taxpayers pay their top tax rate on all income, not just on amounts above the benefit threshold.
1031 QualEx LLC, headquartered in Arkansas, is a qualified intermediary company specializing in 1031 tax-deferred exchanges. The company boasts a small but growing team of specialists with expertise in various fields including law, finance, business, banking, investments, and real estate. The founder, Wade A. Wright, is a University of Arkansas School of Law graduate and has extensive experience in real estate transactions and strategic exchange services. He founded the company after selling his previous business, Ozark Title & Escrow, in 2015. Wade is still practicing in areas related to title and real estate and is a member of the Arkansas Bar. Additionally, the company is a member of the Federation of Exchange Accommodators.
1031 Exchange Services, LLC, headquartered in Arkansas, operates as a division of Kensington Vanguard National Land Services and is a subsidiary of Truist Insurance Holdings, Inc., which is part of Truist Financial Corporation. The company specializes in providing national qualified intermediary services for IRC § 1031 exchanges, emphasizing personalized customer service and direct communication with clients. The leadership includes Todd R. Pajonas, Esq., and Matthew K. Scheriff, CPA, CES, who both have over 25 years of experience in the 1031 exchange industry.The company distinguishes itself by offering individualized service, particularly in handling the security of exchangers' funds. They ensure that each transaction has a separate segregated escrow account, with the option for dual signature escrow accounts, enhancing the security and compliance with IRC § 1031 regulations. Legal 1031 also provides continuing education for professionals like attorneys, CPAs, and realtors, and is recognized for its expertise through various publications and media appearances. They are not a member of the Federation of Exchange Accommodators.
